Bill’s Commentary:
“Transparent?”
Federal Reserve Refuses to Provide Records of Foreign Gold Holdings
Weeks after Federal Reserve Chairman Jerome Powell evaded a sitting congressman’s questions about the central bank’s foreign gold holdings, the Fed has also declined to comply with a Freedom of Information Act request for records about such holdings.
The Federal Reserve’s lack of transparency comes amidst reports that countries are removing their gold and other assets from the U.S. in the wake of the unprecedented Western sanctions imposed on Russia over its invasion of Ukraine. According to a 2023 Invesco survey, a “substantial percentage” of central banks expressed concern about how the U.S. and its allies froze nearly half of Russia’s $650 billion gold and forex reserves.
Bill’s Commentary:
“Again, this is Russian roulette with a full cylinder. Watch what happens shortly after any decision to cancel, or worse, use the funds to support Ukraine…”
Johnson eyes Russian assets in Ukraine funding fight
Congress is gearing up to give President Joe Biden a powerful new financial tool to strengthen Ukraine, in a move that could redefine modern economic diplomacy.
At issue is bipartisan legislation approved by House and Senate committees that would let the administration confiscate around $5 billion to $8 billion in Russian sovereign assets under U.S. jurisdiction and use the money to help finance Ukraine’s recovery. Discussions on the plans are expected to ramp up in the coming weeks as Congress hashes out a new Ukraine aid bill.
BillHolter.com 
Thank you pamelamoves@gmail.com
LikeLike